The kingpin of Middle East energy recently slashed output big time when it comes to oil production.
Yet prices the following day retreated, dropping by approximately 1%.
Many analysts argue that Saudi Arabia alone will not be able to drive oil prices to between $80 and $90 a barrel.
Overall economic weakness, including a possible recession brewing in the United States and Europe, as well as slower than anticipated economic growth in China are hampering Saudi’s efforts.
Of course, for those walking around with their heads in a bubble about the economy, this is the worst possible posturing.
It’s very unlikely to see oil prices skyrocket up.
Why? Because the economy is collapsing.
The truth about one corner of the American economy is that jobs are stronger than anticipated.
If there is a recession, it may be something that the Fed is forced to cause itself in order to mitigate inflation.
The Australian central bank’s recent decision to hike interest rates could be a sign of things to come.
If demand for crude oil is low, it’s not because the oil market is stable.
It’s because the market as a whole has much bigger underlying problems.
None of which solves the larger production crisis.
And it is probably going to get worse before it gets better… especially as the war in Ukraine enters a critical new stage.
We’ll dive deeper into this topic in future issues.
For now, you need to know that no matter which way the price of oil moves, I’ve got a plan to profit from it…
I explain it all right here.
Author: Anthony Speciale
Anthony Speciale Jr. Born and raised into a blue collar family in the suburbs of Northern New Jersey, I have in recent years put down the wrenches I’ve been turning for the better part of my entire life and have become a professional energy trader. My mother was a nurse practitioner and my father was an auto mechanic. I had literally watched both of my parents work endless hours with their hands throughout their entire lives and after loosing my mother at a young age to cancer, I had decided I wanted a different future than the path I was currently on. At a young age I was a struggling student who didn’t excel very well academically and college wasn’t really in the cards for me, but I was always a disciplined worker. When I had put my mind to something, there was nothing that was going to stop me from reaching and exceeding my goals I had set for myself. So, as life had evolved, so did my desire for freedom. It was never much about the money for me, but it was about the success and the freedom that accompanied that success. Over a decade ago, I decided to specialize in just one sector of the market. I knew that I only needed to be proficient at just one area of the market to achieve the goal I had set forth. Trade passively while producing massively. Well, that’s exactly what I did. After several years of failed attempts, endless education, trial and error - I had finally yielded myself the success and freedom I was desiring. After making myself over $1,000,000.00 trading this very method, it was time to share my success with those who also desire the freedom I did. After a lot of work, time, effort and sacrifice - Big Energy Profits went from merely a concept into a very real reality.